Company MD falls victim to phone scam, loses over half a million

Man says he received call claiming he was involved in money laundering, transferred to ‘inspector’ who told him to transfer funds to avoid seizure

2:32 PM MYT

 

JOHOR BAHRU – The managing director of a private company has been cheated of RM520,000 by a phone scam syndicate, according to Johor police. 

Johor police chief M. Kumar said the 46-year-old man, who lodged a police report yesterday, claimed to have received a phone call from an individual who introduced himself as a police officer from a northern contingent last month. 

“The individual told the victim that an ATM card in his name was found during a raid and claimed that he was involved in money laundering activities,” he said in a statement today. 

The call was then transferred to another person who posed as “Inspector Lee Kha Seng”, who offered assistance by transferring the victim’s money to a specified bank account to avoid it from being seized while an investigation was conducted. 

“The victim believed the caller because the name and identity card number read out by ‘Lee’ were accurate. 

“Additionally, he received a letter with a court letterhead stating that investigative, arrest and asset freeze actions would be taken, sent through the WhatsApp application.   

“The victim then followed the instructions given by transferring money to the bank account as directed, amounting to RM520,000,” Kumar said. 

He said the victim only realised he had been scammed after being pressured to make further money transfers, prompting him to lodge a police report. 

The case is being investigated under Section 420 of the Penal Code. – June 3, 2024

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